Key points:
- Q1 2025 revenue rose 7.3% to $75.1m, up from $69.9m in Q1 2024
- Net loss narrowed to $9.8m, down from $11.3m a year earlier
- American Place posted a monthly record of $10.9m in gaming revenue in March
Full House Resorts reported a 7.3% year-on-year rise in revenue for the first quarter of 2025, reaching $75.1m. The company attributed the growth to operational improvements across its portfolio and the continued ramp-up of new properties, including American Place in Illinois and the Chamonix Casino Hotel in Colorado.
Net loss for the quarter narrowed to $9.8m, or $0.27 per diluted share, from $11.3m, or $0.33 per share, in Q1 2024.
American Place Casino achieved a new record in March, generating $10.9m in monthly gaming revenue. The company’s player database now exceeds 100,000 members, supporting expectations of further growth when the permanent facility opens.
The Midwest and South segment, which includes American Place, Silver Slipper and Rising Star, delivered $57.2m in revenue, a 4.6%. Adjusted segment EBITDA rose 3.4% to $13.1m.
In Colorado, revenues climbed 33.9% to $15.6m, driven by Chamonix’s full operations compared to a phased rollout in the prior-year period. However, adjusted segment EBITDA fell to a loss of $2.5m, reflecting elevated costs and snowy weather.
Good to know: The company has introduced new leadership and cost-saving measures aimed at restoring profitability in Colorado
The sports wagering segment posted steady revenues of $2.3m, with adjusted EBITDA improving to $2.2m from $1.9m last year. The company noted that its remaining sports betting partner in Colorado and Indiana plans to exit those markets by the end of 2025.
Full House ended the quarter with $30.7m in cash and has extended its revolving credit facility to January 2027. Management is continuing to evaluate refinancing options to support the construction of the permanent American Place venue, which is expected to begin later this year.
As reported in March 2025, Full House ended 2024 with $292.1m in annual revenue, up 21.2%, driven by growth at American Place and the phased opening of Chamonix.
